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Yemen upstream fiscal summary

Report summary

Production Sharing Contract (PSC)-based fiscal regime. The Yemen Oil Company (YOC) has the right to take a carried equity interest of between 5% and 25% upon a commercial discovery. Royalty and production sharing splits are determined by production rates. Cost recovery ceilings are variable and a range of bonuses, rentals and fees are payable. Government efforts to promote gas exploration and develop a domestic gas market have seen the most recent generation of PSCs begin to outline...

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